Does anyone get the feeling JP Morgan is inaccurate here.
The natural scenario appears to be one where most flock to BTC and crypto in the near future. If inflation rises. Prices trend upwards. And concerns about lockdowns coupled with stimulus spending mount. Employees and the private sector will naturally embrace previous metals and BTC in an effort to insulate themselves from negative effects associated with fiat devaluation, inflation and stimulus spending.
I remember a time around 10 years ago when many europeans thought the EU would fail and euro would devalue due to concerns about greece. Many in europe bought big screen TVs and other items, to retain the value of their money, expecting the euro to crash.
I would be interested to know why JP Morgan says history would not repeat itself here.
Those financial institutions have been wrong about bitcoin forever so I will not trust a single word they say about it, because they are not expressing a real prediction about what it is more likely to happen but a wish, they are expressing what they wish it actually happens, they do not want more people to come to this market, they want people to remain with fiat currencies, but people despite the belief of many of those that think they are above everything are not dumb.
They can see that the rate money is being created by some of the most powerful countries around the world is simply unsustainable and despite their claims that they want to help the economy this is only going to help to make it worse and they are looking for alternatives, and one of those alternatives is bitcoin.